GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share
  • Abu Dhabi Fund for Development projects in Sudan worth AED7.3 billion
  • His Excellency Mohammed Saif Al Suwaidi attributes productive collaboration between ADFD and Sudanese government to leadership   guidance 
  • The Fund contributes to boosting Sudanese economy, enhancing monetary and financial stability 
  • ADFD bolsters historic ties with Sudan through supporting development programmes that serve the most important economic sectors 

Abu Dhabi, UAE March 14, 2018:  The UAE and the Republic of Sudan enjoy long-standing cooperation and strategic bilateral relations.

Built on economic and development partnerships, these historic brotherly ties have significantly contributed to the progress and prosperity of Sudan.

Under the leadership of the UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan and in line with the wise directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the UAE has been supporting the Sudanese government in achieving comprehensive development through financing strategic projects and encouraging diversified investments of UAE companies in Sudan.

To date, the UAE has provided more than AED28 billion in investments and development financing to Sudan. Moreover, 17 UAE companies are operating in various economic sectors in Sudan.

Abu Dhabi Fund for Development (ADFD) is one of the leading national institutions supporting socio-economic development in Sudan through providing nearly AED7.3 billion in financing towards strategic development projects in various sectors, as well as investments and deposits. 

Spanning crucial sectors, such as industry, transportation, energy, water, and irrigation, ADFD's 17 development projects in Sudan have a total value of approximately AED2 billion. Moreover, the Fund has disbursed about AED5 billion (US$1.4 billion) to support liquidity and foreign currency reserves at the Central Bank of Sudan.

This assisted the Sudanese government in stimulating the economy, overcoming financial and economic challenges, and strengthening monetary and financial stability in the country.

ADFD is also keen on driving economic growth through investment cooperation with the Sudanese government.

The Fund currently holds a 100 per cent stake in the Al Dhabi Development Company, a multi-disciplinary holding company that aims to drive economic growth in Sudan.

His Excellency Mohammed Saif Al Suwaidi, Director General of ADFD, said: “The UAE and ADFD are proud of the deep-rooted partnership with the Government of Sudan.

The fraternal ties have grown stronger under the guidance of our wise leadership, enabling us to achieve promising results.”

He added: “Today, in line with our leadership's directives, we continue our collaboration with our brothers in the Sudanese government through supporting development programmes that benefit the Sudanese economy.”

Praising the partnership between the Fund and the Sudanese government as a model of constructive collaboration, His Excellency Mohammed Saif Al Suwaidi noted that ADFD has contributed to financing development projects that serve the most important economic sectors in Sudan. 

Since the commencement of its development activities in Sudan, ADFD has focused on assisting the Sudanese government in its efforts to improve the country's infrastructure – a pillar of socio-economic development, and a fundamental element in the growth and prosperity of various economic sectors. 

Apart from supporting Sudan's balance of payments, ADFD has adopted a holistic approach to funding projects that align with its mission to promote sustainable development in brotherly and friendly countries, and elevate standards of living.

Examples include dam projects that enhance electricity generation and water supply for irrigation, the Khartoum International Airport project, and the railway network project.  

In addition to ADFD's activities and within the framework of cooperation between the two countries, the Abu Dhabi National Oil Company (ADNOC) has been providing Sudan with diesel since 2017, meeting the needs of the local market and supporting various sectors including transport and industry.

The value of the fuel supplied to date is estimated at AED3.2 billion (US$900 million). 

Moreover, with a cumulative value of more than AED18 billion of diversified investments, the UAE private sector also enjoys an active collaboration with its Sudanese counterpart.

Seventeen UAE companies currently invest in Sudan across vital sectors including tourism, agriculture, aviation, and oil and gas.

Through supporting the country's agriculture sector, these investments have played a crucial role in increasing the competitiveness of wheat and fodder pricing.  

 



Posted by : GoDubai Editorial Team
Viewed 8186 times
Posted on : Wednesday, March 14, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Global Leaders Convene in Dubai to discuss Economic Diversification
Next Story : Department of Economic Development – Ajman successfully plants 100 Al Ghaf trees to mark launch of ‘...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Let It Glow
Filorga Launches FLASH-NUDE Collection
Let All Your Photos Be Merry & Bright
HP ProBook x360 11 G3 and G4 Education Edition
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of th...
Chrono 4 Grande Taille - an extra-special timepiece
Tips and Tricks to Wash the Perfect Whites
30 Years of Ryder Cup Heroes Confirmed for the 30th Edition of the Omega Dubai ...
Nike Dubai, the largest Nike store in the MENA region, opens its doors in the Du...
Maintain Healthy Skin Year Round
PopSockets launches a new collection with crystals from Swarovski, the must-have...
American Eagle Is the Go-to Destination for Gifting This Holiday Season'
Free gold coins at Malabar Gold & Diamonds Festival
MIDO Baroncelli Lady Day & Night collection
Akshay Kumar Stuns Audiences With Transformation Into Surprising Look for 2.0
GAZOO Racing Wins Australia Rally at FIA World Rally Championship
Golden Mile Galleria's ‘A Cultural Flair' attracts hundreds of art lovers to Pal...
Newby Teas Launches Advent Calendar For Christmas 2018
Tissot Chemin des Tourelles
The Interiors Gift Guide with Home and Soul
Growth and inclusivity drive Avaya's channel strategy for 2019
Etihad Museum displays the UAE flag using 3D lighting
Time For Enchanting Moments
BharatMatrimony launches office in Dubai targeting 2 Million Indians
Holiday Handbags | GUESS
HE Sheikh Nahayan Mabarak Al Nahayan, UAE Minister of Tolerance opens In-Vitro F...
Kartik Aaryan attends Danube bash
France Attractiveness Scoreboard 2018 Released
International supervisory community meets to discuss challenges ahead for global...
UAE Exchange celebrates UAE National Day in association with RTA
Chinese Manufacturing Companies to Highlight Trade Opportunities in Middle East
UOWD's quality management expert wins ASQ-UAE Quality Professionals Award
Ring in a dazzling festive season at Ibn Battuta Mall
UAE Carriers announce aircraft formation to celebrate 47th National Day and Year...
Dubai's Most Magical Festive Market Opens at Dubai Festival City Mall
Global Knowledge Index 2018 and The Future of Knowledge: A Foresight Report shin...
Dubai Customs wins 3 awards from Ideas UK 2018
Voting on UAE Superbrands 2019 Begins
Middle East economies are still dominated by oil sector development
Green Hope's November Advocacy
FBMA and 47 Emirati women celebrate UAE National Day
New Zealand Crowned Dubai Champions
Five-Star Euro NCAP for Jaguar's Electric I-PACE
National Hospital offering special UAE National Day Health Package for AED 47th
New ACH145 Mercedes-Benz Style Cabin Model Highlights First Presence at MEBAA fo...
100 Day Countdown Begins for Special Olympics World Games Abu Dhabi 2019
Marina Mall sets new world record for Zayed legacy
BMW Group sales increase in October
Festive Gift Sets from Bubble T
UAE Innovation Award is now accepting submissions till the 20th December 2018